New York Codes, Rules and Regulations
Title 9 - EXECUTIVE DEPARTMENT
Subtitle II - Deferred Compensation Board
Part 9006 - Compliance
Section 9006.3 - Exemptions

Universal Citation: 9 NY Comp Codes Rules and Regs ยง 9006.3
Current through Register Vol. 46, No. 39, September 25, 2024

In exceptional circumstances, and where the board deems it to be in the best interest of the plan, the board in its sole discretion may grant an exemption from the applicability of any of the rules and regulations set forth under this Subtitle; provided, however, that, any exemption granted hereunder must be in accordance with the requirements of the Internal Revenue Code, the plan and the board's fiduciary obligations. In the event that the board grants such an exemption, the board shall describe in writing the exceptional circumstances and explain the reasons for its determination that the exemption is in the best interests of the plan. All requests for such an exemption must be submitted to the board in writing and contain a detailed explanation of the reasons why an exemption has been requested.

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